REDWOOD TRUST INC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Schedule IV - Mortgage Loans on Real Estate
| (In Thousands)Description · Number ofLoans · Interest Rate · Maturity Date · Carrying Amount · Principal Amount Subject to Delinquent Principal or Interest | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Residential Consumer Loans Held-for-Investment | ||||||||||||||
| At Sequoia (1): | ||||||||||||||
| ARMS loans | 897 | 1.25% | to | 7.75% | 2026-11 | - | 2036-03 | 104,369 | 1,903 | |||||
| Hybrid ARM loans | 426 | 1.88% | to | 8.88% | 2033-06 | - | 2063-03 | 379,061 | 621 | |||||
| Fixed loans | 9,782 | 1.88% | to | 8.50% | 2026-08 | - | 2054-10 | 8,336,124 | 16,956 | |||||
| At Freddie Mac SLST (2): | ||||||||||||||
| Fixed loans | 9,760 | 2.00% | to | 11.00% | 2024-12 | - | 2064-09 | 1,244,722 | 106,910 | |||||
| Total Residential Consumer Loans Held-for-Investment | $10,064,276 | $126,390 | ||||||||||||
| Residential Consumer Loans Held-for-Sale (3): | ||||||||||||||
| Hybrid ARM loans | 154 | 4.63% | to | 8.25% | 2032-11 | - | 2055-01 | $173,913 | $— | |||||
| Fixed loans | 736 | 3.25% | to | 9.75% | 2027-01 | - | 2055-01 | 839,634 | — | |||||
| Total Residential Consumer Loans Held-for-Sale | $1,013,547 | $— | ||||||||||||
| Residential Investor Term Loans Held-for-Sale (3): | ||||||||||||||
| Fixed loans | 101 | 5.95% | to | 8.50% | 2022-06 | - | 2055-01 | $158,637 | $33,065 | |||||
| Total Residential Investor Term Loans Held-for-Sale | $158,637 | $33,065 | ||||||||||||
| Residential Investor Term Loans Held-for-Investment: | ||||||||||||||
| At CAFL (1): | ||||||||||||||
| Fixed loans | 856 | 3.81% | to | 8.24% | 2022-10 | - | 2033-08 | $2,485,069 | $194,143 | |||||
| Total Residential Investor Term Loans Held-for-Investment | $2,485,069 | $194,143 | ||||||||||||
| Residential Investor Bridge Loans at Redwood (4): | ||||||||||||||
| Fixed loans | 272 | 6.30% | to | 12.50% | 2022-01 | - | 2026-12 | $579,300 | $7,741 | |||||
| Floating ARM loans | 390 | 8.10% | to | 11.80% | 2021-10 | - | 2026-12 | $540,982 | $121,488 | |||||
| Total Residential Investor Bridge Loans at Redwood | $1,120,282 | $129,229 | ||||||||||||
| Residential Investor Bridge Loans Held-for-Investment at CAFL (4): | ||||||||||||||
| Fixed loans | 1,099 | 6.75% | to | 12.00% | 2023-11 | - | 2026-09 | $375,792 | $8,695 | |||||
| Floating ARM loans | 1,197 | 8.10% | to | 13.67% | 2023-10 | - | 2027-03 | $447,311 | $12,269 | |||||
| Total Residential Investor Bridge Loans Held-for-Investment at CAFL | $823,103 | $20,964 | ||||||||||||
| Consolidated Agency multifamily Loans Held-for-Investment (2): | ||||||||||||||
| At Freddie Mac K-Series: | ||||||||||||||
| Fixed loans | 28 | 4.25% | to | 4.25% | 2025-09 | - | 2025-09 | $424,597 | $— | |||||
| Total Consolidated Agency Multifamily Loans Held-for-Investment | $424,597 | $— | ||||||||||||
(1)For our held-for-investment loans at consolidated Sequoia and CAFL entities, the aggregate tax basis for Federal income tax purposes at December 31, 2024 waszero, as the transfers of these loans into securitizations were treated as sales for tax purposes.
(2)Our held-for-investment loans at Freddie Mac SLST and Freddie Mac K-Series entities were consolidated for GAAP purposes. For tax purposes, we acquired real estate securities issued by these entities and therefore, the tax basis in these loans waszero at December 31, 2024.
(3)The aggregate tax basis for Federal income tax purposes of our mortgage loans held at Redwood approximates the carrying values, as disclosed in the schedule.
(4)For our residential investor bridge loans, the aggregate tax basis for Federal income tax purposes at December 31, 2024 was $1.76 billion.
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NOTE TO SCHEDULE IV - RECONCILIATION OF MORTGAGE LOANS ON REAL ESTATE
The following table summarizes the changes in the carrying amount of mortgage loans on real estate during the years ended December 31, 2024, 2023, and 2022.
| Years Ended December 31, | |||
|---|---|---|---|
| (In Thousands) | 2024 | 2023 | 2022 |
| Balance at beginning of year | $12,696,220 | $11,370,323 | $12,856,934 |
| Additions during year: | |||
| Originations/acquisitions | 9,133,852 | 3,639,782 | 6,589,943 |
| Deductions during year: | |||
| Sales | (2,903,954) | (827,337) | (4,325,790) |
| Principal repayments | (2,895,186) | (1,601,190) | (2,199,109) |
| Transfers to REO | (22,554) | (100,280) | (8,495) |
| Changes in fair value, net | 81,132 | 214,922 | (1,543,160) |
| Balance at end of year | $16,089,510 | $12,696,220 | $11,370,323 |
F- 79
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